Fidelity addresses harassment claims in wake of star exit

Fidelity Investments has issued a statement on the company’s work culture following the departure of Citywire A-rated Gavin Baker amid sexual harassment claims.

The company made a brief comment to the media in the wake of reports from several outlets that Baker, who had run the Fidelity OTC Portfolio, had left following accusations of harassment by a colleague.

It said: ‘Fidelity’s policies specifically prohibit harassment in any form. When allegations of these sorts are brought to our attention, we investigate them immediately and take prompt and appropriate action. We simply will not, and do not, tolerate this type of behaviour.’

A spokesperson added that Fidelity Investments has multiple communication channels to allow concerns to be raised internally.

‘This includes the Chairman’s Line, a way for associates to anonymously report concerns of unethical or inappropriate activities. We also conduct annual training for associates regarding our discrimination and harassment policies and the communication channels open to all associates.’

According to a Reuters report, neither Fidelity's chief executive Abigail Johnson nor the company itself had responded to questions over whether the review was being undertaken by consultants.

Citywire USA revealed that Baker left the firm in mid-October after 18 years with the group. Fellow fund manager C. Robert Chow also departed this month in the wake of allegations of inappropriate conduct. Baker and Chow have both denied the allegations.

According to reports, Brian Hogan, who oversees the group’s equity division, had called an emergency meeting on October 16 to reiterate the company’s zero tolerance stance toward inappropriate behaviour.

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